Reaches in-principle restructuring agreement; extends restructuring period to end-2030, converts up to EUR 700M liabilities into subordinate
Board of Management says it reached an understanding in principle on a concept to adjust the existing restructuring agreement with key financing partners and major shareholders Bayerische Raiffeisen-Beteiligungs-AG and Raiffeisen Agrar Invest AG, subject to approvals by relevant committees and boards; needs to be translated into a restructuring agreement until fall 2026. - Understanding in principle includes extension of the restructuring period and prolongation of financial liabilities until end-2030, interest relief, and conversion of financial liabilities of up to EUR 700 million into a subordinated instrument; major shareholders (together approx. 67.1% of shares) transfer shares to a trustee, with shares reverting if at least EUR 220 million is made available in connection with a planned 2029 capital increase (otherwise trustee can sell shares). - Also provides sale of the Heating & Mobility business division by end-2029, with proceeds principally used to repay financial liabilities; Agri Trade & Service and Agricultural Equipment to be transferred into a subsidiary for refinancing capability optimization; Building Materials segment to remain managed as an independently.
Board of Management says it reached an understanding in principle on a concept to adjust the existing restructuring agreement with key financing partners and major shareholders Bayerische Raiffeisen-Beteiligungs-AG and Raiffeisen Agrar Invest AG, subject to approvals by relevant committees and boards; needs to be translated into a restructuring agreement until fall 2026. - Understanding in principle includes extension of the restructuring period and prolongation of financial liabilities until end-2030, interest relief, and conversion of financial liabilities of up to EUR 700 million into a subordinated instrument; major shareholders (together approx.
67.1% of shares) transfer shares to a trustee, with shares reverting if at least EUR 220 million is made available in connection with a planned 2029 capital increase (otherwise trustee can sell shares). - Also provides sale of the Heating & Mobility business division by end-2029, with proceeds principally used to repay financial liabilities; Agri Trade & Service and Agricultural Equipment to be transferred into a subsidiary for refinancing capability optimization; Building Materials segment to remain managed as an independently managed entity. - Separately, BayWa AG agreement to transfer shares in BayWa r.e.
AG held by co-shareholder Energy Infrastructure Partners and the other shareholder to a transformation shareholder, supporting restructuring and subsequent sale, leading to intended deconsolidation.